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What's been driving the AUD EUR this week?

Written by Sam Coxhead on September 15th, 2011.      0 comments

4:35 PM(NZT)
The AUD has been under pressure from the EURO pretty much throughout the week. This has been an interesting move as the market has once again started to price in more aggressive easing in the cash rate from the RBA. The selling accelerated on the announcement that the inflation calculation was changing but the pair has stablised just above the good support level of .7430. With the EURO situation having a small breather the equity markets have seen a small bounce and this has arrested the slide in the AUD. Even given the weakness from the AUD this week, current levels represent fairly good value buying of EUR with AUD.
 
The current Interbank price AUD/EUR : .7463
 
The Interbank range so far this week AUD/EUR : .7440-.7658
 

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